Mipan spent two years trying to buy into the trendy neighborhood, but decided to settle for a place in East Flatbush because of Bed-Stuy's over $1 million prices, The NYPost reports.
"Unfortunately, I was outbid and lost a lot of deals," Mipan said. "By the time I figured it out, I had been priced out of what I wanted."
In the end, Mipan went for a $549,000 two-family house in a middle class area in Brooklyn.
Halstead Property broker Ban Leow says more and more high-earning New Yorkers are moving to the city's eastern neighborhoods in their quest to find more affordable housing.
"They are going further east on the L train to get the homes they want," he said. "The coffee shops, boutiques and clubs will follow."